Gohar Ejaz, the President of the All Pakistan Textile Mills Association (APTMA), sent a letter to Prime Minister Shehbaz Sharif on Monday regarding problems in the textile sector.
According to specifics in the letter, exports will decline if problems in the textile industry are not handled.
He urged PM Shehbaz to reduce and make Sindh’s gas rates comparable to Punjab’s textile industry.
According to Gohar Ejaz, the APTMA Patron-In-Chief, costly cotton has been imported to support the textile industry because cotton worth Rs 5 million was destroyed by devastating floods.
Earlier, the All Pakistan Textile Mills Association (APTMA) raised the alarm about the textile industry’s economic crisis, stating that approximately 60% of the sector is in risk of going out of business.
According to the letter from the APTMA Patron in Chief, the significant liquidity shortage has led to the impending closure of 60% of the business. He also said that the government had stopped issuing 72-hour tax refunds and that the nation’s exports were in free fall.